Alibaba Buys Half Of Chinese Soccer Club For $192 Million

WochitJun. 05, 2014. 03:46 AM EST

In a speedy deal hatched over a few drinks, China's biggest e-commerce company Alibaba is buying ...
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In a speedy deal hatched over a few drinks, China's biggest e-commerce company Alibaba is buying half of the country's most successful soccer club Guangzhou Evergrande for $192 million. For Jack Ma, Alibaba Group Holding's billionaire founder and confessed soccer agnostic, it may seem a fanciful move, the latest in a string of recent acquisitions beyond Alibaba's traditional e-commerce businesses.
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